Starting Second Term Today, SEC Commissioner Peirce Tells Cointelegraph Her Crypto Priorities

Sworn in for her second term today, SEC Commissioner Hester Peirce tells Cointelegraph about the commission’s work on crypto and new tech in investing. Most days, there is little love lost between the United States Securities and Exchange Commission and the world of crypto.

Abra CEO Explains Why It's Bitcoin's Time to Shine

With expectations of further US dollar inflation, why would people hold cash? The US government's attempts to fix the current economic situation could ultimately lead to greater Bitcoin (BTC) adoption, according to Bill Barhydt, CEO of crypto wallet and exchange solution, Abra.  "I think that this is a pivotal moment for Bitcoin as a new asset class," Barhydt told Morgan Creek Digital co-founder Anthony Pompliano during an Aug.

On-Chain Bitcoin Scaling En Masse Requires Bigger Blocks, Abra CEO Says

Bitcoin can scale as an adopted store of value using second-layer solutions, but not on-chain with its current technology says Abra’s CEO. Bill Barhydt, CEO and founder of the Abra digital finance wallet and exchange app, said he sees Bitcoin’s (BTC) blockchain struggling when it comes to on-chain mass adoption of the asset as a store of value, given the asset’s current technology.  “Bitcoin can certainly scale ‘off-chain’ today via third-party custodians such as exchanges and wallets like Abra or other so-called second-layer technologies such as Lightning,” Barhydt told Cointelegraph on July 15.   He added: “When held in that manner Bitcoin’s scalability is probably limitless.

Abra Building Banking Solutions on Stellar Blockchain, CEO Barhydt Says

As part of its work with the Stellar blockchain, Abra plans to provide global banking features.

Law Decoded: Pushing the Legal Limits, July 10–17

In this week’s newsletter, we look at a series of developments that test the limits of governmental authority over crypto, as well as the contest with social media. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note New developments in crypto this week are challenging a number of critical boundaries of legal authority.

Abra CEO Agrees With Bitcoin's Role as Digital Gold

Abra CEO and founder Bill Barhydt said he sees Bitcoin as a store of value, increasingly distancing itself from mainstream market price correlation.

Bitcoin Investor Sues IRS for Unlawful Seizure of Financial Records at 3 Crypto Exchanges

Bitcoin investor Jim Harper has sued the US Internal Revenue Service (IRS), its commissioner, and a number of federal agents.

The SEC killed ICOs. DeFi could be next

The SEC and the CFTC’s joint attack on Abra may signal that a crackdown on DeFi is about to hit the multi-billion dollar industry, according to industry insiders.

US SEC and CFTC Fine Cryptocurrency Investment Platform Abra for Illegal Swaps

Two US regulators, the Securities and Exchange Commission and the Commodities Futures Trading Commission, fined well-known cryptocurrency platform Abra for conducting illegal token swaps. The post US SEC and CFTC Fine Cryptocurrency Investment Platform Abra for Illegal Swaps appeared first on CryptoPotato.

Abra Crypto App Charged by SEC for Transactions Affecting Thousands of US Stock and ETF Purchases

Abra cryptocurrency app has been charged by two US regulators: the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

SEC, CFTC launch joint attack on crypto stocks platform Abra

The SEC and the CFTC have cracked down on Abra, which let users trade tokenized versions of stocks.

SEC Charges App Developer Abra for Unregistered Security-Based Swaps

Abra and Plutus Tech have agreed to a cease-and-desist order and a combined penalty of $150,000 after being charged by the Securities and Exchange Commission for selling unregistered security-based swaps to investors in 2019.

SEC and CFTC Fine Crypto Investment App for Offering Synthetic Assets

US regulators team up to fine and halt a crypto portfolio app offering synthetic exposure to traditional assets, which was not offered to US investors. The Securities and Exchange Commission and Commodity Futures Trading Commission issued a joint fine to Abra, a crypto portfolio app that let users get synthetic exposure to traditional markets. According to the SEC’s release, Abra effectively offered “security-based swaps” to retail investors without the proper registration, in addition to “failing to transact those swaps on a registered national exchange.” Abra offered a type of “centralized” synthetic asset, where users were able to get exposure to traditional securities like stocks by putting up Bitcoin (BTC) and Litecoin (LTC) as collateral.

SEC, CFTC Hit Crypto App Abra With $300K in Penalties Over Illegal Swaps

The financial regulators both found fault with Abra offering security-based swaps without first checking to see whether investors were eligble.